Cornelia Grabe, Florian Jäckel, Parv Khurana and Richard P. Dwight
This paper aims to improve Reynolds-averaged Navier Stokes (RANS) turbulence models using a data-driven approach based on machine learning (ML). A special focus is put on…
Abstract
Purpose
This paper aims to improve Reynolds-averaged Navier Stokes (RANS) turbulence models using a data-driven approach based on machine learning (ML). A special focus is put on determining the optimal input features used for the ML model.
Design/methodology/approach
The field inversion and machine learning (FIML) approach is applied to the negative Spalart-Allmaras turbulence model for transonic flows over an airfoil where shock-induced separation occurs.
Findings
Optimal input features and an ML model are developed, which improve the existing negative Spalart-Allmaras turbulence model with respect to shock-induced flow separation.
Originality/value
A comprehensive workflow is demonstrated that yields insights on which input features and which ML model should be used in the context of the FIML approach
Details
Keywords
Khaled El-Akruti and Richard Dwight
The role of engineering asset management (AM) system as a controlling element within organizations is not well defined or understood. The purpose of this paper is to include the…
Abstract
Purpose
The role of engineering asset management (AM) system as a controlling element within organizations is not well defined or understood. The purpose of this paper is to include the role of AM in the organizational strategy making, an issue that has not received sufficient attention. The focus of the paper is on how such role is maintained by the AM system activities, relationships and mechanisms over the asset-related activities of an organization.
Design/methodology/approach
As an approach, a reference framework is required that allows research of this area. By combining a number of possible views of an organizational management system a comprehensive view can be established. A review of literature was used to establish a framework identifying the AM system as an integrated part of the organization's management system.
Findings
A framework is established that focuses on planning and controlling asset-related activities by involving a set of activities, relationships between these activities and feedback mechanisms. A system functional model is proposed integrating the established framework as part of the control of the enterprise system.
Research limitations/implications
The framework and system functional model are established on a theoretical basis and practical experience requiring applicability to be proven by further research.
Practical implications
Asset managers in capital intensive organizations can utilize the framework and the system functional model in order to study their AM system, its relationships and to consider how it may be improved.
Originality/value
Exploring a holistic and relatively new concept.
Details
Keywords
Performance measurement remains a complex issue. This is particularly so if some absolute measure of performance is sought. A definition of performance in terms of value is…
Abstract
Performance measurement remains a complex issue. This is particularly so if some absolute measure of performance is sought. A definition of performance in terms of value is restated and further developed. Reacting to this strict definition, the systems audit approach to measuring performance is developed and its use illustrated. Concludes that the absolute definition of maintenance performance, in terms of changes in value, presents difficult practical problems. Notes that a systems audit approach to performance measurement can potentially overcome some of these problems while preserving the focus on both business outcomes.
Details
Keywords
Kongkiti Phusavat, Pornthep Anussornnitisarn, Petri Helo and Richard Dwight
The purpose of this paper is to identify the past and present practices, and the future roles of performance measurement in the Thai public sector. It is part of a transformation…
Abstract
Purpose
The purpose of this paper is to identify the past and present practices, and the future roles of performance measurement in the Thai public sector. It is part of a transformation effort initiated by the Office of the Public Sector Development Commission (OPDC) on m‐government – more mobile, responsive, and flexible government. The paper also aims to identify possible roadblocks from successfully integrating performance measurement into a management process.
Design/methodology/approach
In‐depth interviews with 12 executives and top administrators from private firms and public agencies, and document reviews are performed. The analysis on the participants' opinions is based on the applications of the grounded theory. The interview's findings are verified with document reviews. The roadblocks are identified and substantiated by two experts.
Findings
For past and present practices, performance measurement is part of management tool and responsibility, a quality management system, and a learning organization. Its future viewpoints include a driver towards good governance, transparency, and accountability, and a success factor of performance audit and organizational competency/capability. Four important roadblocks in implementing performance measurement in an organization relate to staff empowerment, budgeting, external knowledge, and linkage with software usages.
Practical implications
The findings provide important information into the OPDC's planning process on its m‐government transformation initiative.
Originality/value
The paper attempts to blend knowledge on performance measurement from both the private and public sectors. It highlights the greater roles and expectations on performance measurement in an organization.
Details
Keywords
Peter Koveos and Dipinder Randhawa
The objective of this study is to analyze the framework within which microfinance institutions (MFIs) deliver their services and provide an assessment of their operations and…
Abstract
The objective of this study is to analyze the framework within which microfinance institutions (MFIs) deliver their services and provide an assessment of their operations and financial management. These institutions are examined because of their current importance to a special group of consumers, primarily the poor and disenfranchised in the developing world, and of their future promise as an economic development solution. Since the objective of these institutions is somewhat unique, the manner of their assessment must also differ from that used to assess the performance of traditional financial intermediaries. In particular, assessment of MFIs must recognize their dual (bank and development instrument) status. Their efficiency, then, must be analyzed in terms of its economic (or financial) dimension as well as its social dimension. The first dimension may be examined with traditional measures, while examination of the second requires measures that reflect the MFI’s social objectives. In order to accommodate the special nature of MFIs, this study proposes the use of a Balanced Scorecard approach. It contributes to the study of financial institution performance by examining a non‐traditional group of institutions using a variety of assessment measures. The findings should be of value to those interested in the financial sector as well as those involved in public policy decision making.
Details
Keywords
In recent years, the central monetary authorities of some Gulf Cooperation Council countries have made several regulatory changes in order to achieve social & economic goals. The…
Abstract
In recent years, the central monetary authorities of some Gulf Cooperation Council countries have made several regulatory changes in order to achieve social & economic goals. The monetary authorities of these countries have strengthened prudential norms. Asset classifications and provisioning norms have moved closer to international standards. Banks are required to maintain capital to risk weighted assets ratios of 8 per cent required by the BIS. Local banks follow International Accounting Standards. Although the central monetary authorities of the GCC countries are active in supervising and monitoring their regulations on financial institutions, but not in a rapid way. In a global financial market, Islamic‐banking regulators that operate Islamic banks should think about the compatibility of the regulatory setting. Through a deep understanding of the nature of the Islamic banking business and the recent western banking supervisory framework, Islamic banking regulators will be able to develop a sound banking system without loosing its own distinction.
Details
Keywords
Richard Huaman-Ramirez and Dwight Merunka
This paper aims to model and estimate how celebrity chief executive officers (CEOs) credibility (i.e. expertise, trustworthiness, attractiveness) is related to their brand image…
Abstract
Purpose
This paper aims to model and estimate how celebrity chief executive officers (CEOs) credibility (i.e. expertise, trustworthiness, attractiveness) is related to their brand image (i.e. functional, sensory/visual). This paper further examines the effects of consumer materialism on both celebrity CEOs’ credibility and the image of their brand.
Design/methodology/approach
A total of 260 participants knowledgeable of CEOs and their corresponding brands completed an online questionnaire in a cross-sectional study. The data were analyzed through covariance-based structural equation modeling.
Findings
Celebrity CEOs’ expertise and attractiveness are positively related to both functional and sensory/visual images of their brands. Results also demonstrate the positive effect of materialism on both celebrity CEOs’ credibility and brand image.
Research limitations/implications
The research was conducted in one country (France) using a cross-sectional design. Additional studies in other settings or countries should be carried out to establish the generalizability of results and strengthen causality inferences.
Practical implications
CEOs need to understand and manage their key role as celebrities, given the direct influence they may have on consumer brand perceptions and behavior.
Originality/value
This study refines the relationship between celebrity CEOs’ credibility and brand image. It is the first to introduce and validate the effect of consumer materialism on the perception of celebrity CEOs.